Mission IBPS Exam : Banking Awareness Quiz

1) Which of the following organizations is the Mutual Fund Market regulator?

(a) AMFI

(b) SEBI

(c) CIBIL

(d) CRISIL 

(e) None of these

2) The discounting rate at which RBI borrows government securities from commercial banks is known as

(a) Repo Rate

(b) Reverse Repo

(c) Deposit Rate

(d) Base Rate         

(e) None of these

3) In TRIPS, what does ‘I’ stands for?

(a) Intellectual

(b) Information

(c) Indian

(d) Infra 

(e) International

4) Two parallel transverse lines on the face of the cheque is called as crossing and when a name of a bank is included between the two lines, it is called as:

a) General crossing

b) special crossing

c) double crossing

d) bank crossing

e) none of the above

5) What do you mean by a clearing house?

a) Collection centre for cheques and demand drafts; 

b) Pooling centre for excess currencies received from the branches; 

c) Collection centre for collection of tax and other receipts; d) collection centre for issuing debit and credit cards to customers; 

e) none of the above

6) Bank of America situated at New York is opening an account with State Bank of India at Kolkatta and what do you mean this?

a) Nostro account

b) Vostro account

c) Loro account

d) RFC account

e) FCNR account

7) The returned non resident Indians are permitted to open the following accounts:

a) Non resident external account

b) Non resident ordinary account

c) RFC account

d) FCNR account

e) none of the above

8) Narrow banking means:

a) The bank branch which has narrow corridors; 

b) the bank situated in narrow street; 

c) the bank which accepts deposits and invests the amount in government securities; 

d) the bank which only lends loans and not accepts any deposits from the public; 

e) all the above

9) In period of depression when the Reserve Bank desires to encourage the banking system to create more credit it 

(1) reduces the bank rate

(2) raises the bank rate

(3) permits the bank rate to be decided by market forces

(4) All of the above

(5) None of the above

10) Smart card has been introduced on the recommendations of which committee among the following?

a) Rangarajan committee; 

b) Panneerselvam committee; 

c) Saraf committee; 

d) Nayak committee; 

e) Goiporia committee

Answers will be provided soon